LawgistThe National Bank for Agriculture and Rural Development Act
37National Bank not to grant loans or advances against its own bonds or debentures
The National Bank shall not grant any loan or advance on the security of its own bonds or debentures.
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CREDIT FUNCTIONS OF THE NATIONAL BANK
- 21 Production and marketing credit
- 22 Conversion loan for production credit
- 23 Rescheduling of loans to artisans, small-scale industries, etc
- 24 Investment credit--medium term
- 25 Other investment credit
- 26 Purchase and sale of shares
- 27 Loans to State Governments for share capital contribution
- 27A Loans to State Government, undertakings, etc
- 28 Security for credit
- 29 Amounts and securities to be held in trust
- 30 Direct loans
- 30A Bills rediscounting
- 31 Commission
- 32 Issue of guarantees
- 33 Power to impose conditions for accommodation
- 34 Power to call for repayment before agreed period
- 35 National Bank to have access to records
- 36 Validity of loan or advance not to be questioned
- 37 National Bank not to grant loans or advances against its own bonds or debentures
- 37A Prohibited business
